Chamber Luncheon "How the Small Business Administration Can Help Business"

Today's luncheon will feature the Small Business Administration (SBA) and how they can help small business through Counseling and training, guaranteed loans and doing business with the government.

Stan Nakano is the Utah District Director for the U.S. Small Business Administration.  The Utah District participates with lenders,  including banks, certified development companies, and credit unions, each one partnering with SBA to meet the financing needs of small businesses  in Utah.  In fiscal year 2012, the SBA guaranteed 1,377 small business loans for over $361 million, an all-time dollar record for Utah.  The total outstanding loan portfolio is in excess of 19,500 loans for over $1.6 billion.
 
The Utah District provides funding support to eleven Small Business Development Centers, five SCORE chapters, and a Women’s Business Center co-located at the Salt Lake Chamber of Commerce.  These organizations provide outstanding counseling and training for new and existing entrepreneurs.  
 
Additionally, the Utah District plays a significant role by helping small businesses obtain contracts through the federal procurement system.  Under SBA’s 8(a) program, Utah small businesses were approved for federal contracts totaling $172 million in fiscal year 2012 and another $49 million through SBA’s HUBZONE program.
 
Before becoming the District Director, Nakano served as the Chief of Portfolio Management for the Utah District Office.  Nakano has an education background in finance and managed the SBA department for a Utah bank before joining the SBA.
 
Nakano is most proud of the great number of businesses the SBA has been able to assist including businesses owned by women and minorities as well as veteran owned businesses and international trade clients exporting goods and services around the world.
 
Nakano encourages Utah small businesses to take full advantage of the programs and services offered by the SBA in Utah.